$mick thanks; for the one who missed the Abcourt Mines zoom meeting -
Since you couldn't attend the meeting Fernand and Jim, here's a bit more info to fill in the gaps:
Production targets "in the next few years":
Elder: 15-18k oz Au per year
Sleeping Giant: 18-22k oz Au per year
Abcourt-Barvue: .8M oz Ag per year
108 employees at Elder as of Dec.2020 40 employees currently at Sleeping Giant
Over 400 days straight without a compensible accident
Mr. Hinse: "Senior personnel are being hired".
Normand Hinse was recently promoted to CFO.
At Elder there's at least 10 years of mine life left with good prospects for further discoveries. We are mining 50% from the block model and 50% are new resources.
At Sleeping Giant during this development phase the grades from the various areas are what they have expected. For Q2 159 oz will be mined with rapid increases after that. (check out the powerpoint for predictions in the following quarters).
No additional financing is required for Elder or Sleeping Giant.
At Abcourt-Barvue it would take 2 years to restart the mine. Permitting is the bottleneck, otherwise it could done be much faster.
Mr. Hinse is not into any alternative forms of financing such as streaming deals or crowfunding. He said that since they can borrow at 2% or 3% it makes no sense to engage in costlier forms of financing.
-GM
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If you look at Elder only, The cost per ton including administratives fees is 230$ in the presentation.
Should they get 4 g/t it is about 1610Cad$ or 1280 US$
The reason why cost are high is that they are developing Sleeping Giant.
They always had reasonable cost until they start to open the giant again.
Now $1280 us is at 4 gram tons. But the last pr with results from feb 2021 leave a much better grade and thus a lower price.
The Giant has 12 g/t material so you need the third of material for same profit. :-))
At 230 per ton it is 575 CAD$ per ounces of gold or 459US$
So yes I do strongly believe cost are just about to go significantly down.
for 3 reasons
1- Better grade at Elder
2- No more spending in development at Sleeping Giant paid by Elder but a profitable operation at both mine
3-Sleeping giant Has 3 time better grade and cost should be really lower.
For all those reason I think we still need a bit of suffering for the Giant to be done in a couple of month but every press release numbers seems to be better and I am very confident they will get amazingly better with the Giant. by rpm111
Abcourt eng. is often very conservative on every estimate, imo!
Let's move on :-))
$usmcgy01 thanks; Record Revenue; Best to Date” from Emerging Abitibi Gold Producer Dave Jackson Dave Jackson, Stockhouse 5 Comment
1 + Favorites When Stockhouse Editorial last caught up Quebec-based $Abcourt Mines Inc.(ABI) (TSX-V.ABI, OTCMKTS: ABMBF, Forum), our investor audience got a firsthand look at the awakening of a “Sleeping Giant” in gold exploration.
Fast-forward to today, and the company’s mining operations are now very wide awake and ready for growth at multiple sites.
Founded in 1971, Abcourt Mines, is an established and emerging gold producer with two gold mines, one zinc-silver mine, several gold and zinc projects in its current portfolio.
The junior mining company offers excellent operating potential for gold, silver, and zinc in the historically prolific, stable, and mining- friendly Abitibi, Quebec region.
Abcourt is currently focusing on the exploitation of its Elder mine and on the development of the aforementioned Sleeping Giant mine.
Its gold-producing asset is the Elder Mine.
The company has a processing plant with a capacity of 750 tonnes per day.
The mine is equipped with functional buildings plus all of the surface and underground equipment with a 2,600-ft shaft (793 metres) and 16 levels.
The project is currently producing 15,000 to 18,000 ounces of gold per year.
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